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Tag Archives: non-compliance

How the Forfeited Corporate Property Act, 2015 Affects Ontario Corporations and Not-for-profit Corporations

Posted in Land Use, Policy

On December 10, 2016, the Forfeited Corporate Property Act, 2015 (the “FCPA”) came into force in Ontario. This statute addresses what happens to property that is not distributed by an Ontario corporation prior to its dissolution.  It also amends the Business Corporations Act (Ontario) (the “OBCA”) and the Corporations Act (Ontario) (the “OCA”) to include a requirement for corporations to maintain a register of ownership interests in land in Ontario. Corresponding amendments were also made to the Not-for-Profit Corporations Act (Ontario) (the “ONCA”), which has not yet come into force.… Continue Reading

Stringent Non-Compliance Penalties under B.C.’s new Property Transfer Tax Regime

Posted in Policy, Residential

On Monday, July 25, 2016, the government of British Columbia announced that foreigners who buy residential property in the Vancouver area will have to pay an extra 15% on top of the current property transfer tax. This additional tax will apply to all buyers who are not Canadian citizens or permanent residents, including corporations that are not registered in Canada or are controlled by foreigners.  The tax is expected to come into effect on Tuesday, August 2, 2016.… Continue Reading

Waiving “formalities” in a Procurement Process: What Owners and Bidders Need to Know

Posted in Municipal

It is not unusual for tender documents to reserve discretion to an owner to “waive formalities” in accepting a bid.  Such discretion needs to be interpreted in the context of the requirement that an owner may in no circumstances accept a “non-compliant bid”.  But, without further definition, what is considered a “formality” that may be waived?  What risks does an owner in a procurement process face if it waives a formality, or alternatively, if it refuses to exercise its discretion to do so?  These are the questions the Ontario Court of Appeal grappled with in Rankin Construction Inc. v. Ontario.Continue Reading